Why You Can't Afford to Ignore Public Liability Insurance

In an era where one unexpected disaster involving the injuring of a
customer or damage to their property could spell the end of a business,
both local companies and global corporations are making moves to secure
adequate public liability insurance. This particular type of insurance
covers its policy holders in the unfortunate event that someone outside
their company is injured by machinery, equipment or even an environment
maintained by the company. It also covers accidental damage done to a
customer's property within the course of servicing their property or
operating within their home. According to recent insurance buying
trends, businesses interested in this type of coverage are demonstrating
that they take their customer's safety, and the overall risk of
liability to their own company, very seriously.

The types of businesses most usually interested in obtaining this type
of insurance coverage include those that require a lot of direct
interaction with their customers or their customers' property as a
requirement of their daily operation. Auto-mechanics, companies that
install services directly in a customer's home, or valet parking
services, for example, are keen to be covered under this type of
insurance. Even companies that do not directly service or interact with a
customer's property are finding public liability insurance to be
essential, specifically because a company may still be liable for
injuries or damages that occur when a customer visits their office, if
it is found that the company improperly maintained its environment.

In the tragic event that someone were grievously injured by a company
accident, this type of insurance would even cover compensatory payouts
made to the injured party's next of kin. Companies with a high volume of
customer interaction or public operations are also finding this
coverage indispensible because it can help to defray the extraordinary
legal costs associated with these types of accidents. Essentially, public liability insurance just makes good business sense, not to mention it is the right thing to do. Imagine if the unspeakable were to actually happen in your place of business. Not only would you feel terrible for the victim, you would want to be in a position to see that their medical costs got taken care of, that their post-care options could be sufficiently funded and, finally, that your business could come out of the incident on its feet.

In this way, public liability insurance represents a tremendous responsibility on the part of a business owner, not only directly toward their patrons and clients, but also symbolically within society.